The Office for Competition and Consumer Protection has issued a decision concerning promotional terms and conditions applying to mortgage loans used by DNB Bank Polska.
DNB’s clients have brought complaints against the institution to the antimonopoly watchdog. They stated that the bank had increased the margin on promotional mortgage loans and the fees charged for maintaining “Personale” accounts.
In the opinion of the bank, the borrowers failed to adhere to the terms and conditions of the promotional offer pursuant to which lower installments were due. Under the agreement, they were required to deposit a specific amount into their accounts every month, or to maintain a pre-determined deposit. Many customers were transferring the money from another account maintained at DNB. The bank, however, was only recognizing transfers made from external sources. As a result, it was increasing the margin without any prior warning. The practice commenced at the beginning of 2015 and has continued until today. DBN has also increased the fee for the “Personale” account from PLN 18 to PLN 22.
“We have analyzed the terms and conditions of the promotion and have determined that no explicit requirement was contained therein stating that the transfers must be made from accounts maintained at other banks. Therefore, borrowers could be in compliance with the terms and conditions of the promotional offer and were eligible to pay lower installments,” claims Marek Niechciał, the President of UOKiK.
As a result of the proceedings, DNB undertook to amend its practices and to compensate its former and current customers whose margin rates and account fees had been increased. The bank will refund the difference between the increased and the promotional margin. The institution also will restore lower “Personale” account fees (PLN 18) and will refund the difference resulting from the fact that higher fees have been charged.
